Impact of Small Business in India

Abstract

In the post liberalization era, the industrial growth has recorded & phenomenal change, mainly due to the progress made by IT and ITes sectors. However, the liberalization era has shown that micro and small industries faced threat of closure due to inversion of MNC's in India. The Government of India is bound to prefect the micro and small industries in India, since India is abundant with labour force, mostly unskilled. The government has taken the right step in bringing legislation for MSME's through an act Viz., MSME Act, 2006. The paper attempts to provide an overview of micro & Small industries India and study the impact of small business right from 1991 to 2013.